Mortgage Rates Back Near All-Time Lows

Mortgage Rates Back Near All-Time Lows

Under signs of a growing economy and low inflation, fixed-rate mortgages inched down this week and are hovering near their record lows, Freddie Mac reports in its weekly mortgage market survey.

Here’s a closer look at average mortgage rates for the week ending Nov. 1:

30-year fixed-rate mortgages: averaged 3.39 percent, with an average 0.7 point, dropping from last week’s 3.41 percent average. The record low for the 30-year mortgage, set in recent weeks, was an average of 3.36 percent.

15-year fixed-rate mortgages: averaged2.70 percent, with an average 0.7 point, dropping from last week’s 2.72 percent average. The 15-year rates record low average is 2.66 percent, which was set in mid-October.